Protec'Style: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
Protec'Style
Largest movements
- Cash +€50,876
up €50,876 (+33.6%), from €151,537 to €202,413
mainly Other debts (+€316,884) and Net result for the year (+€50,440)
- Tangible fixed assets -€24,786
down €24,786 (-10.2%), from €242,937 to €218,150
of which Land and buildings: -€16,193
- Stocks and contracts +€14,766
up €14,766 (+24.4%), from €60,539 to €75,305
- Receivables within one year -€8,223
down €8,223 (-7.3%), from €113,238 to €105,015
of which Trade receivables: -€10,070
- Other debts +€316,884
up €316,884 (+868.3%), from €36,494 to €353,378
- Reserves -€276,000
down €276,000 (-70.5%), from €391,360 to €115,360
- Trade debts +€37,146
up €37,146 (+121.7%), from €30,531 to €67,677
- Debts after one year -€32,016
down €32,016 (-16.3%), from €196,969 to €164,953
- Accrued charges and deferred income -€10,435
no longer reported in 2025 (was €10,435)
- Financial charges -€130,401
down €130,401 (-95.9%), from €135,954 to €5,554
of which Non-recurring financial charges: -€130,050
- Gross operating margin -€72,212
down €72,212 (-28.4%), from €254,558 to €182,346
- Taxes +€19,817
up €19,817 (+736.2%), from €2,692 to €22,508
- Other operating charges -€10,565
down €10,565 (-73.1%), from €14,458 to €3,894
- Staff costs +€3,442
up €3,442 (+4.4%), from €77,593 to €81,035
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €770,572 | €801,924 | +€31,353 | +4.1% |
| Fixed assets | 21/28 | €243,052 | €218,265 | -€24,786 | -10.2% |
| Tangible fixed assets | 22/27 | €242,937 | €218,150 | -€24,786 | -10.2% |
| Land and buildings | 22 | €210,405 | €194,212 | -€16,193 | -7.7% |
| Plant, machinery and equipment | 23 | €13,769 | €10,740 | -€3,029 | -22.0% |
| Furniture and vehicles | 24 | €18,762 | €13,198 | -€5,565 | -29.7% |
| Financial fixed assets | 28 | €115 | €115 | = | 0.0% |
| Current assets | 29/58 | €527,520 | €583,659 | +€56,139 | +10.6% |
| Stocks and contracts in progress | 3 | €60,539 | €75,305 | +€14,766 | +24.4% |
| Stocks | 30/36 | €60,539 | €75,305 | +€14,766 | +24.4% |
| Amounts receivable within one year | 40/41 | €113,238 | €105,015 | -€8,223 | -7.3% |
| Trade receivables | 40 | €96,353 | €86,282 | -€10,070 | -10.5% |
| Other amounts receivable | 41 | €16,885 | €18,733 | +€1,847 | +10.9% |
| Current investments | 50/53 | €200,000 | €200,000 | = | 0.0% |
| Cash at bank and in hand | 54/58 | €151,537 | €202,413 | +€50,876 | +33.6% |
| Deferred charges and accrued income | 490/1 | €2,206 | €926 | -€1,280 | -58.0% |
| Total equity and liabilities | 10/49 | €770,572 | €801,924 | +€31,353 | +4.1% |
| Equity | 10/15 | €420,507 | €144,169 | -€276,338 | -65.7% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Reserves | 13 | €391,360 | €115,360 | -€276,000 | -70.5% |
| Distributable reserves | 133 | €391,360 | €115,360 | -€276,000 | -70.5% |
| Profit (loss) carried forward | 14 | €1,406 | €1,846 | +€440 | +31.3% |
| Investment grants | 15 | €9,141 | €8,363 | -€778 | -8.5% |
| Amounts payable | 17/49 | €350,064 | €657,755 | +€307,691 | +87.9% |
| Amounts payable after more than one year | 17 | €196,969 | €164,953 | -€32,016 | -16.3% |
| Financial debts | 170/4 | €196,969 | €164,953 | -€32,016 | -16.3% |
| Amounts payable within one year | 42/48 | €142,660 | €492,802 | +€350,142 | +245.4% |
| Current portion of amounts payable after more than one year | 42 | €34,421 | €32,016 | -€2,405 | -7.0% |
| Trade debts | 44 | €30,531 | €67,677 | +€37,146 | +121.7% |
| Suppliers | 440/4 | €30,531 | €67,677 | +€37,146 | +121.7% |
| Taxes, remuneration and social security | 45 | €41,214 | €39,731 | -€1,483 | -3.6% |
| Taxes | 450/3 | €27,841 | €25,080 | -€2,762 | -9.9% |
| Remuneration and social security | 454/9 | €13,372 | €14,651 | +€1,279 | +9.6% |
| Other amounts payable | 47/48 | €36,494 | €353,378 | +€316,884 | +868.3% |
| Accrued charges and deferred income | 492/3 | €10,435 | - | -€10,435 | |
| Remuneration, social security and pensions | 62 | €77,593 | €81,035 | +€3,442 | +4.4% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €27,778 | €25,819 | -€1,960 | -7.1% |
| Other operating charges | 640/8 | €14,458 | €3,894 | -€10,565 | -73.1% |
| Non-recurring operating charges | 66A | - | €621 | +€621 | |
| Gross operating margin | 9900 | €254,558 | €182,346 | -€72,212 | -28.4% |
| Operating profit (loss) | 9901 | €134,728 | €70,978 | -€63,751 | -47.3% |
| Financial income | 75/76B | €4,645 | €7,524 | +€2,879 | +62.0% |
| Recurring financial income | 75 | €4,645 | €7,524 | +€2,879 | +62.0% |
| Financial charges | 65/66B | €135,954 | €5,554 | -€130,401 | -95.9% |
| Recurring financial charges | 65 | €5,904 | €5,554 | -€351 | -5.9% |
| Non-recurring financial charges | 66B | €130,050 | - | -€130,050 | |
| Profit (loss) for the period before taxes | 9903 | €3,419 | €72,948 | +€69,529 | +2033.6% |
| Income taxes | 67/77 | €2,692 | €22,508 | +€19,817 | +736.2% |
| Profit (loss) for the period | 9904 | €727 | €50,440 | +€49,713 | +6834.9% |
| Transfer from tax-exempt reserves | 789 | €190 | - | -€190 | |
| Profit (loss) for the period to be appropriated | 9905 | €918 | €50,440 | +€49,522 | +5396.3% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.